Cameco (TSE:CCO) Hits New 52-Week High – Still a Buy?

Cameco Co. (TSE:CCO) (NYSE:CCJ) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$85.35 and last traded at C$85.15, with a volume of 56640 shares trading hands. The stock had previously closed at C$83.85.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets raised their price target on Cameco from C$78.00 to C$84.00 in a report on Friday, November 8th. Royal Bank of Canada raised their price target on Cameco from C$75.00 to C$90.00 in a research note on Thursday, November 21st. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Canaccord Genuity Group raised their price target on Cameco from C$75.00 to C$78.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Scotiabank raised their price target on Cameco from C$80.00 to C$86.00 in a research note on Tuesday, November 19th. Seven equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$84.30.

Cameco Trading Up 0.3 %

The company has a debt-to-equity ratio of 25.39, a quick ratio of 3.74 and a current ratio of 3.22. The company has a 50 day simple moving average of C$72.51 and a two-hundred day simple moving average of C$67.21. The firm has a market cap of C$36.60 billion, a PE ratio of 142.12, a P/E/G ratio of 2.22 and a beta of 0.90.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.16 per share. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is presently 20.34%.

Insider Buying and Selling at Cameco

In other Cameco news, Senior Officer Sean Anthony Quinn sold 13,400 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$83.63, for a total value of C$1,120,642.00. Also, Senior Officer Brian Arthur Reilly sold 14,062 shares of Cameco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of C$79.98, for a total transaction of C$1,124,678.76. In the last 90 days, insiders have sold 34,362 shares of company stock worth $2,757,122. 0.15% of the stock is currently owned by insiders.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.